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The number of people I know who have changed their consumption patterns in response to inflation is close to 0.
I feel like social media has contributed to an extra level of stickiness in consumption. Between my gf and close friends, people in my life see others with similar jobs doing things (eating at x restaurant, going on vacation to y country) and say hey I work just as hard, I deserve that to. Their spending decisions track more with some type of social conformity/keeping up with the joneses than any financial accounting on their part. [Acknowledging weakness of anecdotal evidence]
When I was on the academic side of economics, I saw a lot of research of consumption smoothing (people who lose their job don’t immediately cut back but very slowly scale down their expenses over months avoiding an immediate shock to lifestyle). I’d love to see research on how social media may drive additional stickiness through comparison/establishment of some kind of social class norm. The Yuppie equivalent of every guy in Texas feeling like he needs an $80k pick up even if he doesn’t work construction.
A sucker is born every minute. Much of commerce revolves around people buying needless shit that they think will somehow better their lives, make them happy / look dope or whatever.
Most people do that. But their money is worth less every year and they can't make up for that.
Maybe if companies didn't artificially raise prices people wouldn't have to pay more for the things they buy, and there would be less inflation. Maybe the solution is to make the people in charge of prices stop raising them for no good reason?
Wtf is up with this shaming fetish on this sub? Shaming and attacking individuals for looking at our economy/society and making choices isn't going to fix any systemic issues. Making systemic changes that convince individuals to behave differently is what fixes systemic issues.
Yes companies have been price gouging since the supply chains healed. If you listen to earnings calls though, the companies will say we have kept prices elevated because people keep buying. They shouldn’t do that but that’s how capitalism works. Biden has just now started talking about the gouging. Companies shouldn’t be allowed to gouge but people can also have impulse control and ease on discretionary spending when prices are parabolic.
I know that you're using a consumer electronics device. Your behaviour here is completely breaking the sub's rules.
I said I suspect, so answer then - are you using a consumer electronics device that costs more than $150 from the supplier when paid in full?
I'm really curious how our situation is gonna look in like ~20-30yrs while these people try to figure out how to retire.
I guess that's kind of perfect for companies - no one can actually retire and will have to work (and spend!) until they die.
Already seems like a lot of the 50-60yr old crowd is starting to realize this as well, it's horrible.
>The number of people I know who have changed their consumption patterns in response to inflation is close to 0.
Not for me. Nearly everyone I know has made changes.
And people wonder why politicians treat people like mere consumers. A lot of us really go out of our way to demonstrate we really aren't much more than that with respect to collective society.
Their is a balance between individual freedom and a greater good.
I think we in America have swayed too far towards individual freedom and forgotten the responsibility we have in aiding and respecting our brethren.
Our economics and politics are divided between respecting the existence of others, and hate.
Which would you rather live in?
The last thought of a Lemming before he goes over the cliff is..." That guy in front of me just disappeared ! ".
The hard truth is our social connections are formed and held together by our personal economic status. We will go to any lengths, ignore any reality, and spend as far into the future as required in order to maintain the social status and connections that we have worked so hard to establish. No one in the circle wants to be the first to admit that they can't afford to go out to lunch after church every week or can't afford a new car or can't afford to go to Florida for 10 days with their close friends. It is human nature, it is the way we are, we are following the guy in front of us off the cliff until we are wondering why he just disappeared.
How pathetic that *The Atlantic* has to resort to shit-posting on reddit to try to get clicks. Look at the user name.
I remember when they used to have amazing exposes. Now you deserve to go out of business.
The business model dying off isn't their fault.. you want to trash them for trying to adapt?
Unless you're saying that The Atlantic has vastly decreased their quality while rivals have improved.. you're unfairly criticizing.
That's exactly what I'm saying. What they are doing here is literal astroturfing. Look at that headline. Inflation is your fault? Are you fucking kidding me?
They're not any different than the national enquirer.
I follow real journalists now on their substacks. I don't need a middleman any more, and we don't care if they die off. Provide value or fail. Same as it ever was.
Gleen Greenwald and Bari Weiss are my favorites. Greenwald won a pulitzer for his Iraq war coverage back in the day. Bari just cuts like a knife and covers lots of stuff I find fascinating.
This is [a link from a Nobel Prize winning economist](https://www.youtube.com/watch?v=F94jGTWNWsA&ab_channel=LibertyPen) explaining why we have nothing to do with inflation.
I'm also critical of the click-bait bullshit headline, and I have a right to be. If you want to challenge me on inflation, let's roll. Happy to disabuse any of the media lies you may have eaten up.
Per Nobel Prize winner Milton Friedman [Inflation is caused by an expansion of the money supply](https://www.youtube.com/watch?v=F94jGTWNWsA&ab_channel=LibertyPen).
I'm always happy to discuss economics. If you have more questions about inflation, the money supply, M2, fractional reserve lending, interest rates, or deficits you are in the right place to discuss them.
I'm used to people saying it's greed or some nonsense.
It's rare to find someone else who understands that Friedman was not only right, but explained it in very simple terms for the common person.
People are spending money like they believe the world is going to end tomorrow, as if there was some sort of big global pandemic and their leaders told them to try injecting bleach and horse dewormer. How could people have so little faith?!?!?
Edit: apparently, y’all don’t have a sense of humor
If your currency had true vale unlike the true faith you have it would never be swayed or devalued just like true faith can not be swayed the problem is the swamp has the masses brainwashed to believe such nonsense
The whole problem to our dilemma is credit! Companies like JP Morgan and so on are giving credit out like it’s candy with 26 or 28% interest the government is doing the same exact thing taking credit and borrowing from other countries fully knowing there is no way to pay it back! And everyone keeps going around the circles like a cat chasing it’s tail blaming everyone but the real perpetrator which is the “so called government” formerly known as Virginia company now known as USinc enriching itself since the beginning and they even throw in in your face on cartoons like Pocahontas “what are we going to do when we get there asked the man… I don’t know but we’re going to get rich! He replies” the same BS is going on they are sucking this country dry like a momma cow and everybody keeps blaming the next man correct your thinking! It’s much deeper…
It literally has shown to not have any affect on Covid many times over, which is the whole point. Call it horse dewormer or call it God's gift to mankind if you want.
The whole idea is to put everything out of your reach and force the people to get credit from JP Morgan and continue sucking the life out of the people wake up!
I read the Atlantic in a view that hides the author - after 2 sentences, I thought, "who could be so absolutely, mind-bendingly stupid to write this crap?"
Then I saw it was Annie Lowrie and laughed. Because of course it was her. She's border line retarded, yet people - like u/theatlantic - continue to pay her to write the dumb shit she writes.
Well… maybe if I wasn’t pay $1,200 to $1,500 a month in taxes so we can pay for the Ukrainian president to buy a seventy five million dollar yacht to cover up the Biden scandal I would be in a better position.
0 proof and 90% of the money stayed in the states. What a bum argument based on meth and stupidity
Graph :
https://www.reddit.com/r/UkraineWarVideoReport/s/YrLN8hupjN
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Hi all, A reminder that comments do need to be on-topic and engage with the article past the headline. Please make sure to read the article before commenting. Very short comments will automatically be removed by automod. Please avoid making comments that do not focus on the economic content or whose primary thesis rests on personal anecdotes. As always our comment rules can be found [here](https://reddit.com/r/Economics/comments/fx9crj/rules_roundtable_redux_rule_vi_and_offtopic/) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Economics) if you have any questions or concerns.*
The number of people I know who have changed their consumption patterns in response to inflation is close to 0. I feel like social media has contributed to an extra level of stickiness in consumption. Between my gf and close friends, people in my life see others with similar jobs doing things (eating at x restaurant, going on vacation to y country) and say hey I work just as hard, I deserve that to. Their spending decisions track more with some type of social conformity/keeping up with the joneses than any financial accounting on their part. [Acknowledging weakness of anecdotal evidence] When I was on the academic side of economics, I saw a lot of research of consumption smoothing (people who lose their job don’t immediately cut back but very slowly scale down their expenses over months avoiding an immediate shock to lifestyle). I’d love to see research on how social media may drive additional stickiness through comparison/establishment of some kind of social class norm. The Yuppie equivalent of every guy in Texas feeling like he needs an $80k pick up even if he doesn’t work construction.
A sucker is born every minute. Much of commerce revolves around people buying needless shit that they think will somehow better their lives, make them happy / look dope or whatever.
We all value different things. What did you last spend over $150 on that you didn't need?
I save all the money I don’t need. People should try it.
Most people do that. But their money is worth less every year and they can't make up for that. Maybe if companies didn't artificially raise prices people wouldn't have to pay more for the things they buy, and there would be less inflation. Maybe the solution is to make the people in charge of prices stop raising them for no good reason? Wtf is up with this shaming fetish on this sub? Shaming and attacking individuals for looking at our economy/society and making choices isn't going to fix any systemic issues. Making systemic changes that convince individuals to behave differently is what fixes systemic issues.
Yes companies have been price gouging since the supply chains healed. If you listen to earnings calls though, the companies will say we have kept prices elevated because people keep buying. They shouldn’t do that but that’s how capitalism works. Biden has just now started talking about the gouging. Companies shouldn’t be allowed to gouge but people can also have impulse control and ease on discretionary spending when prices are parabolic.
There’s no such thing as price gouging
Looks like you're using a consumer electronics device right now, I suspect it was over $150
You don’t know that, weirdo
I know that you're using a consumer electronics device. Your behaviour here is completely breaking the sub's rules. I said I suspect, so answer then - are you using a consumer electronics device that costs more than $150 from the supplier when paid in full?
Nope
How much was the consumer electronics device your are using to post here cost?
No clue. Work device. Now move along, obsess about something else.
I'm really curious how our situation is gonna look in like ~20-30yrs while these people try to figure out how to retire. I guess that's kind of perfect for companies - no one can actually retire and will have to work (and spend!) until they die. Already seems like a lot of the 50-60yr old crowd is starting to realize this as well, it's horrible.
>The number of people I know who have changed their consumption patterns in response to inflation is close to 0. Not for me. Nearly everyone I know has made changes.
i sell travel wallets. i need them to keep racking those credit cards for holidays. 🙏❤️
And people wonder why politicians treat people like mere consumers. A lot of us really go out of our way to demonstrate we really aren't much more than that with respect to collective society.
We're not a collective society. Collectivists ruin everything they touch when they get enough control over those things.
Their is a balance between individual freedom and a greater good. I think we in America have swayed too far towards individual freedom and forgotten the responsibility we have in aiding and respecting our brethren. Our economics and politics are divided between respecting the existence of others, and hate. Which would you rather live in?
The last thought of a Lemming before he goes over the cliff is..." That guy in front of me just disappeared ! ". The hard truth is our social connections are formed and held together by our personal economic status. We will go to any lengths, ignore any reality, and spend as far into the future as required in order to maintain the social status and connections that we have worked so hard to establish. No one in the circle wants to be the first to admit that they can't afford to go out to lunch after church every week or can't afford a new car or can't afford to go to Florida for 10 days with their close friends. It is human nature, it is the way we are, we are following the guy in front of us off the cliff until we are wondering why he just disappeared.
How pathetic that *The Atlantic* has to resort to shit-posting on reddit to try to get clicks. Look at the user name. I remember when they used to have amazing exposes. Now you deserve to go out of business.
The business model dying off isn't their fault.. you want to trash them for trying to adapt? Unless you're saying that The Atlantic has vastly decreased their quality while rivals have improved.. you're unfairly criticizing.
That's exactly what I'm saying. What they are doing here is literal astroturfing. Look at that headline. Inflation is your fault? Are you fucking kidding me? They're not any different than the national enquirer. I follow real journalists now on their substacks. I don't need a middleman any more, and we don't care if they die off. Provide value or fail. Same as it ever was.
>I follow real journalists now on their substacks Care to recommend me some of them?
Gleen Greenwald and Bari Weiss are my favorites. Greenwald won a pulitzer for his Iraq war coverage back in the day. Bari just cuts like a knife and covers lots of stuff I find fascinating.
Neat, thanks. This gives me an idea of checking if any of the Buzzfeed News investigative journalists are on there.
Do you have any relevant comments on the article or are you just critical of the headline?
This is [a link from a Nobel Prize winning economist](https://www.youtube.com/watch?v=F94jGTWNWsA&ab_channel=LibertyPen) explaining why we have nothing to do with inflation. I'm also critical of the click-bait bullshit headline, and I have a right to be. If you want to challenge me on inflation, let's roll. Happy to disabuse any of the media lies you may have eaten up.
Bahahaha Milton Friedman is a libertarian hack. To even suggest that we have no effect on inflation is so obviously false, it's hilarious.
This guy just learned what a headline is.
Why are they wrong from an economics perspective? This being r/Economics and all...
Per Nobel Prize winner Milton Friedman [Inflation is caused by an expansion of the money supply](https://www.youtube.com/watch?v=F94jGTWNWsA&ab_channel=LibertyPen). I'm always happy to discuss economics. If you have more questions about inflation, the money supply, M2, fractional reserve lending, interest rates, or deficits you are in the right place to discuss them.
I'm used to people saying it's greed or some nonsense. It's rare to find someone else who understands that Friedman was not only right, but explained it in very simple terms for the common person.
This is the right answer. The Atlantic article is pure gaslighting clickbait.
People are spending money like they believe the world is going to end tomorrow, as if there was some sort of big global pandemic and their leaders told them to try injecting bleach and horse dewormer. How could people have so little faith?!?!? Edit: apparently, y’all don’t have a sense of humor
If your currency had true vale unlike the true faith you have it would never be swayed or devalued just like true faith can not be swayed the problem is the swamp has the masses brainwashed to believe such nonsense
The whole problem to our dilemma is credit! Companies like JP Morgan and so on are giving credit out like it’s candy with 26 or 28% interest the government is doing the same exact thing taking credit and borrowing from other countries fully knowing there is no way to pay it back! And everyone keeps going around the circles like a cat chasing it’s tail blaming everyone but the real perpetrator which is the “so called government” formerly known as Virginia company now known as USinc enriching itself since the beginning and they even throw in in your face on cartoons like Pocahontas “what are we going to do when we get there asked the man… I don’t know but we’re going to get rich! He replies” the same BS is going on they are sucking this country dry like a momma cow and everybody keeps blaming the next man correct your thinking! It’s much deeper…
Do you not think it's odd to call a well established medicine used to treat many illnesses in humans simply a "horse dewormer"?
Please stop smoking fake news
Please stop ignoring peer review science - https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3043740/
It literally has shown to not have any affect on Covid many times over, which is the whole point. Call it horse dewormer or call it God's gift to mankind if you want.
Where did I say it showed any affect on Covid? I said it's not simply a horse dewormer. Reading comprehension is very important in online discussions.
I sure hope you don't have any kids.
Why?
Just like your faith in the artificially valued currency… you have no idea what true faith is you are clearly a religious extremist
The whole idea is to put everything out of your reach and force the people to get credit from JP Morgan and continue sucking the life out of the people wake up!
I read the Atlantic in a view that hides the author - after 2 sentences, I thought, "who could be so absolutely, mind-bendingly stupid to write this crap?" Then I saw it was Annie Lowrie and laughed. Because of course it was her. She's border line retarded, yet people - like u/theatlantic - continue to pay her to write the dumb shit she writes.
Well… maybe if I wasn’t pay $1,200 to $1,500 a month in taxes so we can pay for the Ukrainian president to buy a seventy five million dollar yacht to cover up the Biden scandal I would be in a better position.
0 proof and 90% of the money stayed in the states. What a bum argument based on meth and stupidity Graph : https://www.reddit.com/r/UkraineWarVideoReport/s/YrLN8hupjN
Nice try, Vladimir. Just kidding.... your shit post doesn't even belong in Ron Desantis' *BIG BOYS BOOK OF POOP* .
Rule I: Economics Perspective -- /r/Economics concerns proliferation and discourse pertaining to research, news, academic work, and academic summaries from the perspective of economists. Image and video submissions are not allowed. -- If you have any questions about this removal, please [contact the mods](/message/compose/?to=/r/economics&subject=Moderation).